The global oats market reached a volume of 23.5 Million Tons in 2018. Oats are grains obtained from the Avena Sativa plant which belongs to the Poaceae family. They are consumed by humans in the form of oatmeal or rolled oats and are also used as an ingredient in animal feed. Although with the availability of low-cost substitutes, along with changing farming practices, the usage of oats as a feed grain has significantly declined over the past few years. On the contrary, the consumption of oats as a breakfast cereal and an ingredient in baked goods has witnessed a boost due to the presence of a variety of nutrients including vitamin E, essential fatty acids, soluble fibers and antioxidants. Oats also contain beta glucan which is a lipid-lowering agent and lignan that not only lowers unhealthy cholesterol levels and prevents heart diseases but also reduces the chances of hormone-related cancers.
Increasing awareness about the health benefits offered by oats has boosted their inclusion in healthy breakfast foods and snacks like granola bars, muesli, oats biscuits and oatmeal. The market is also being driven by the substantial growth in retail chains and online platforms in confluence with the easy availability of premium oat-based products. Moreover, the fast-paced lifestyle led by the working population has catalyzed the demand for ready-to-eat oats products. Apart from this, manufacturers are constantly expanding their product portfolio by introducing oat-based beverages and bakery products in the market. Similarly, they are launching unique flavors of oats and oat-based products, such as mint, masala and orange. According to IMARC Group, the global oats market volume is anticipated to exceed 28 Million Tons by 2024, expanding at a CAGR of nearly 3% during 2019-2024.
Breakup by Product Type:
Oat flakes are the most popular product type since they are consistently gaining popularity as a breakfast cereal.
Breakup by Application:
Oats are extensively used in a wide variety of food products owing to their unique flavor and high nutritional value. Some of the common food products made from oats include porridge, bread, cookies, infant food and muesli.
On a geographical front, Russia is the leading producer of oats, accounting for the majority of the total global market. Within the region, oat cultivation is common in forest belt areas with a milder climate.
The competitive landscape of the market has also been analyzed with the detailed profiles of the key players operating in the major markets.
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